AUDJPY is showing us a really nice flat correction.
A flat correction consists of 3 major waves, which is broken down into 3(A) 3(A) C(5).
We are currently in C wave, subwave 4. Expecting subwave 5 soon.
Trade Idea:
- Watch for breakdown of subwave 4 correction
- Entry after break of red trendline
- Stops above the highs of the correction
- Targets: 90.5 (330pips), 89.1 (480pips)
Goodluck and as always, trade safe!
A flat correction consists of 3 major waves, which is broken down into 3(A) 3(A) C(5).
We are currently in C wave, subwave 4. Expecting subwave 5 soon.
Trade Idea:
- Watch for breakdown of subwave 4 correction
- Entry after break of red trendline
- Stops above the highs of the correction
- Targets: 90.5 (330pips), 89.1 (480pips)
Goodluck and as always, trade safe!
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